API Definition

Bookmark and Share

API is Accountants for the Public Interest.

Learn new Accounting Terms

SURPLUS generally means any excess amount, but in finance it is the remainder of a fund appropriated for a particular purpose. In a corporation, surplus means assets left after liabilities and debt, including capital stock, has been subtracted.

UNDERABSORBED OVERHEAD is where total overhead has not been fully allocated to products sold or services offered. Such a condition can result in an understatement of COGS or cost of sales.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.